Describe how different business organizations operate in the global legal environment and identify the domestic and global legal issues that impact the various business structures and how those issues can be effectively managed.
The response addresses the queries posted in 781 words with references.
//Before working on the identification of legal issues at domestic and global level, you must be having some understanding of legal environment around the world and its impact on different business organization. I am going to provide you with an idea about domestic and international legal environment and its impact on various business structures. Additionally, I am providing you with an understanding for managing these issues effectively, which will be helpful for you in completing your assignment. //
Introduction
The government set the legal framework within which the business organizations operate. Legislations defining property and business organizations, laws of contracts and bankruptcy, mutual obligations of labor and management and a multitude of laws and regulations constrain the way business activities are carried out to constitute legal environment of business (Misra & Puri, 2005). In international markets, the legal environment regulates the operations of firms. Business organizations have to understand the nature and complexity of the whole range of legislation, enactments and legal provisions relating to business (Global Business Environment, 2007). Governments impose various strict laws to protect the business organizations from cut- throat global competition.
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